Bullish sentiment returns to BTC after yesterday’s sale – market updates Bitcoin news
After yesterday’s price drop, bitcoin stabilized during Thursday’s session, as prices hovered marginally below $ 21,000. The Bulls are trying to take BTC back against this resistance level, which was broken as a result of Wednesday’s sale.
Bitcoin
BTC traded marginally below $ 21,000 on Thursday, as prices rose slightly after the hump day.
After Wednesday’s lowest value of $ 19,848.08, BTC / USD rose to an intraday high of $ 20,835.75, earlier in today’s session.
This move comes as bulls appear to be breaking out of the current $ 21,100 resistance, which has been in place for the past week.
The hope for a break will increase as the 14-day RSI has moved beyond its own resistance level.
As the chart shows, after almost ten days of reluctance to give way, the 30.50 ceiling was finally broken.
The next visible resistance level appears to be 36.60 points. Should we see relative strength move to this point, BTC could trade over $ 22,000.
Ethereum
ETH was also back in the green on Thursday, after seeming to overcome Wednesday’s uncertainty hump.
The prices of the world’s second largest crypto token rose to an intraday high of $ 1,119.61, coming less than a day after almost falling below $ 1,000.
As a result of today’s decline in price, bulls are likely to try to maintain this momentum, with some looking at an important resistance point.
This ceiling is on the $ 1190 mark, which is the main obstacle that can prevent ETH from moving back to $ 1200.
Overall, momentum seems bullish, with the relative strength index tracked at its highest level in almost two weeks.
At the time of writing, the index follows 32, with the next resistance level at 35.85.
Do you expect bullish momentum to increase as we move towards the end of the week? Leave your thoughts in the comments below.
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